International
US lithium giant Albemarle to slash operations in Western Australia's Kemerton
Sydney, Aug 1 (IANS) The US-headquartered lithium mining giant Albemarle has declared its decision to axe processing operations of its Kemerton lithium hydroxide conversion site in Western Australia, with a spokesperson flagging “market conditions” and “commercial realities” as the sole reason.
According to a statement obtained by Xinhua on Thursday, Albemarle Corporation took actions to “proactively respond to ongoing industry headwinds, particularly in the lithium value chain, so it can preserve long-term competitiveness.”
Kent Masters, the company’s chairman and chief executive officer, revealed that the long-term growth potential for their end markets remained strong.
“Given the dynamics of the global markets we serve, we must be able to pivot and pace as necessary to maintain our leading position,” he added.
For the operation of the Kemerton lithium hydroxide conversion plant, the company decided to stop construction activities at Train 3, idle production at Train 2 and place the unit in care and maintenance, as well as focus manufacturing efforts on the continued ramp and qualification of Train 1.
“Today’s decisions regarding Kemerton are entirely due to market conditions and the commercial realities that lithium prices will stay lower for longer. This has nothing to do with State and Federal government policies,” said a spokesperson from Albemarle’s Australia Branch.
Albemarle pledged to still employ around 460 people at the Kemerton plant and continue investment into Western Australia’s economic growth.
The two-train lithium hydroxide processing plant at Kemerton is located near Bunbury in Western Australia’s southwest region, manufacturing value-added lithium products.
In June last year, the Australian Trade and Investment Commission confirmed a 1-billion-Australian-dollar (about 652.7 million U.S. dollars) funding by Albemarle to add two new processing trains to the Kemerton site.
“This investment, combined with the existing two trains at Kemerton owned under Albemarle’s joint venture with Mineral Resources, represents the biggest investment by any company in downstream processing of lithium in Australia. It will make Albemarle the largest producer of lithium in Australia,” said the commission, Xinhua news agency reported.
It was also estimated that once fully operational, the two new trains would double the plant’s forecast annual output by 50,000 metric tonnes to 100,000 metric tonnes per annum.
“This is enough lithium hydroxide to manufacture batteries for approximately 2.4 million electric vehicles. Construction is set to begin immediately, with the first train operational by 2026,” the commission added.
As one of Australia’s largest lithium producers, Albemarle also holds strategic investments in lithium mining, such as Wodgina Lithium Mine joint venture in the Pilbara, and a shareholding in the Greenbushes lithium mine.
In response to Albemarle’s decision to downgrade operations at Kemerton, Australian Minister for Resources Madeleine King commented that it underlines the continuing volatility of international critical minerals markets.
“Market concentration and volatility in demand have caused extreme price changes in lithium markets, including an 80 percent fall in lithium hydroxide prices over the last 12 months,” said King.
The minister has been advised that 300 Albemarle employees would be directly affected by the scaled-back activities.
As part of its Future Made in Australia agenda, the federal government unveiled a Critical Minerals Production Tax Incentive in May, valued at 17.6 billion Australian dollars (about 11.4 billion U.S. dollars) over 14 years to boost the processing and value-adding of critical minerals onshore.
King saw the production tax credits as an aid to build Australia’s sovereign capability, increase local resilience, add additional value to the country’s commodities, and grow jobs.
“Current conditions in lithium markets highlight the importance of policy support for Australia’s critical minerals sector to help address distortions in global markets and secure opportunities for Australia to be a key supplier of high quality refined critical minerals,” she said.
–IANS
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International
Lee Hsien Yang seeks refuge in United Kingdom
Lee Hsien Yang, the youngest son of Singapore’s founding father, the late Lee Kuan Yew, announced on Tuesday that he is now a political refugee in the United Kingdom after seeking asylum from the British government “as a last resort.”
“I remain a Singapore citizen and hope that someday it will be safe to return home,” Lee stated in a Facebook post, as reported by Channel News Asia (CNA).
Citing what he described as the Singapore government’s “attacks” against him, Lee, who is the younger brother of former Prime Minister Lee Hsien Loong, revealed that he sought asylum protection in 2022.
Lee Hsien Yang and his late sister, Lee Wei Ling, who passed away earlier this month, have been in conflict with their brother Lee Hsien Loong over the fate of their father’s home following his death in 2015, resulting in a public dispute that has estranged the siblings.
In an interview with the UK-based newspaper The Guardian, Lee alleged that a “campaign of persecution” compelled him to seek asylum in Britain.
In response to his claims, the Singapore government stated that there is “no basis” for his allegations of “a campaign of persecution” or other assertions regarding political repression in the country.
“Singapore’s judiciary is impartial and makes decisions independently. This is why Singaporeans have a high level of trust in the judiciary,” a government spokesperson remarked.
The spokesperson added that there are no legal restrictions preventing Lee and his wife, lawyer Lee Suet Fern, from returning to Singapore. “They are and have always been free to return to Singapore,” the spokesperson said.
Lee and his wife have been outside of Singapore since 2022, having opted not to attend a scheduled police interview regarding potential offenses related to providing false evidence in judicial proceedings concerning their father’s will and the family home.
Lee and his late sister, who had been living at the property, alleged they felt threatened while trying to fulfill their father’s wish to demolish the house. They also accused their elder brother, former Prime Minister Lee Hsien Loong, of abusing his governmental influence to advance his personal agenda.
International
Indo-Russian ties are stronger than ever before at BRICS
Kazan, Russia: Prime Minister Narendra Modi held a bilateral meeting with Russian President Vladimir Putin on the sidelines of the 16th BRICS Summit.
During the meeting, President Putin remarked, “I recall our meeting in July, where we had productive discussions on various issues. We’ve also spoken over the phone several times. I am very grateful you accepted the invitation to come to Kazan. Today, we will attend the BRICS Summit’s opening ceremony, followed by dinner.”
PM Modi responded by expressing his appreciation, saying, “I sincerely thank you for your friendship, warm welcome, and hospitality. It’s a great pleasure to visit such a beautiful city as Kazan for the BRICS Summit. India shares deep historical ties with this city, and the opening of our new embassy here will further strengthen these connections.”
International
Laos seeks to enhance nutrition amid climate change concerns
Vientiane (Laos), Aug 22 (IANS) Representatives from the Lao government and development partners have attended a conference here titled “Climate Change and Nutrition in Laos: Intersections and Interventions” to discuss the impact of climate change on nutrition in the Southeast Asia country and potential solutions.
Speaking at the conference, deputy director general of the Department of Hygiene and Health Promotion under the Lao Ministry of Health Viengkhan Phixay, said, “We gather to address a critical and interwoven issue: the impact of climate change on nutrition and how we can work together to tackle these challenges,” Xinhua news agency reported.
The Lao government is actively engaged in this endeavor, with numerous policies and initiatives aimed at addressing both climate change and nutrition, Lao National Television reported on Thursday.
“By leveraging the Scaling Up Nutrition network in Laos, which is led by the government, and supported by civil society, donors, and the United Nations, we have a robust platform to tackle the negative impacts of climate change while improving nutrition and overall health for everyone in Laos,” Viengkham said at the conference held on Monday.
The conference featured a series of presentations that not only detailed evidence-based research but also introduced innovative tools for measuring and enhancing nutrition under the impact of climate change.
The conference stressed the critical need for integrated approaches to tackle the intertwined challenges of climate change and nutrition, and setting the stage for impactful future collaborations.
–IANS
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International
One killed, seven injured in shootout in Iraq
Baghdad, Aug 22 (IANS) A civilian was killed while seven others were injured on Thursday in a tribal shootout in Iraq’s holy Shiite province of Najaf, according to a local security source.
The shootout erupted in the early hours between armed men from the local tribe in the al-Zarga area in northern Najaf, some 160 km south of Baghdad, a local police officer told Xinhua on condition of anonymity.
The clash resulted in the killing of an Iraqi civilian and the injury of seven others, including three Iranian Shiite pilgrims, the source added.
A joint force from the Interior Ministry’s emergency response division and Najaf provincial police arrested 53 gunmen from both sides of the shootout and seized weapons and ammunition, the Interior Ministry said in a statement.
It added that search operations are ongoing to locate additional gunmen and weapons, with more details to be released later.
The incident took place as numerous pilgrims traveled to the city of Karbala to observe Arbaeen, which marks the end of a 40-day mourning period for the killing of Imam Hussein, the grandson of Prophet Muhammad, in the Battle of Karbala in 680 A.D.
Typically, these pilgrims also visit Najaf as part of their journey to Karbala.
–IANS
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International
Bangladesh seeks $1 billion budget support from World Bank
Dhaka, Aug 22 (IANS) Bangladesh’s interim government has sought $1 billion from the World Bank as budgetary support.
The call came from the country’s Power, Energy and Mineral Resources Adviser Muhammad Fouzul Kabir Khan’s meeting with Abdoulaye Seck, the World Bank’s Country Director for Bangladesh and Bhutan, in Dhaka on Wednesday.
He made the plea as the ministry owes more than 2 billion dollars to suppliers in import costs of power and energy, Xinhua news agency reported.
Khan mentioned that the interim government, which was formed with many pressing mandates, is due to settle a $2 billion debt left by the previous government in the power sector.
He said they have already suspended activities under the much-criticized Quick Enhancement of Electricity and Energy Supply Act 2010 and abolished the government’s power to set energy prices without any public hearing.
On August 5, the former Prime Minister of Bangladesh, Sheikh Hasina, was ousted from her country and power, ending her rule since January 2009.
This event was seen as a massive escalation, with what initially started as student’s protests and resulted in a major crisis in Bangladesh.
Earlier on August 8, Nobel laureate Muhammad Yunus took oath as the head of Bangladesh’s interim government.
–IANS
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